Steel makers misusing measures

Steel makers misusing measures
17/01/2018 , by , in ALLIED

Apex engineering export organisation EEPC India has alleged that domestic steel producers are taking undue advantage of the protectionist measures taken by the government.

“Basking under a slew of protectionist measures initiated by the government, the Indian steel makers are enjoying a huge premium in the domestic market, up to USD 200 a tonne, cutting into the competitiveness of highly employment-oriented user industries, mostly in the SME sector,” the EEPC India said.

There is a clear discrimination against the domestic users as the steel makers are fully exploiting various protectionist measures, Engineering Export Promotion Council India Chairman Ravi P Sehgal said.

The export price is much lower than the domestic prices of the finished steel as also different products, he said.

“To us, the domestic users, steel and products are supplied at a much higher prices, raising the overall cost of production and in short, raising the difference between export and domestic price.

“The difference in the export price and the domestic prices is estimated to be around USD 150-USD 200 per tonne. Barring wire rods, the domestic price of all other steel products is found greater than the export prices of the given products,” Sehgal said.

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